How are you feeling being just 5 years from retirement? Are you smiling and looking forward to retirement living or are you frowning and worried about your retirement years.
For 95% of people (these statistics have been the same for 50 years +), their retirement funds are inadequate to carry on a decent life. Only 5 out of every 100 people have sufficient in their 401k retirement plans. You could start a traditional business. Being in business with no boss to answer to is the dream for a lot of people. But what business is right for you? How much money must you invest not only to open the doors but to sustain the business; particularly in its early years. Are you prepared to place a second or even a third mortgage over your house to gamble on this new venture working out. Can you defy the odds of 87% of small businesses failing in the first 2 years.
Decrease Your Spending Pay cash not credit. Credit card debt is running away. It's way too easy to buy things on credit and pay off someday. Well someday never comes for most people and you are left paying for goods and services you probably never needed in the first place with a hefty 19% interest charge on top. Pay cash for what you really need.
Buy cheaper brands. If you need to save a few pennies, may be you need to shop for cheaper brands. Most supermarkets offer a generic home brand product in competition to the large multinational producers. In some cases they are on par but it's usually up to a bit of self-talk that the generic product is ok. But you will save money, at least on paper.
Can You Increase Your Income And Decease Your Spending At The Same Time? If you are 5 years from retirement and want to increase your income and decrease your spending, it can be done. It requires a change in your thinking though.
For 95% of people (these statistics have been the same for 50 years +), their retirement funds are inadequate to carry on a decent life. Only 5 out of every 100 people have sufficient in their 401k retirement plans. You could start a traditional business. Being in business with no boss to answer to is the dream for a lot of people. But what business is right for you? How much money must you invest not only to open the doors but to sustain the business; particularly in its early years. Are you prepared to place a second or even a third mortgage over your house to gamble on this new venture working out. Can you defy the odds of 87% of small businesses failing in the first 2 years.
Decrease Your Spending Pay cash not credit. Credit card debt is running away. It's way too easy to buy things on credit and pay off someday. Well someday never comes for most people and you are left paying for goods and services you probably never needed in the first place with a hefty 19% interest charge on top. Pay cash for what you really need.
Buy cheaper brands. If you need to save a few pennies, may be you need to shop for cheaper brands. Most supermarkets offer a generic home brand product in competition to the large multinational producers. In some cases they are on par but it's usually up to a bit of self-talk that the generic product is ok. But you will save money, at least on paper.
Can You Increase Your Income And Decease Your Spending At The Same Time? If you are 5 years from retirement and want to increase your income and decrease your spending, it can be done. It requires a change in your thinking though.
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